Marcus & Millichap Sells 45-Unit Multifamily Building In Jersey City For $17.7M
211 Baldwin Avenue
$17,700,000
Building Size
—
Asset Type
MultiFamily
Closing
Sep 15, 2023
AI
The 45-unit apartment building, 6ixBoroJC, located at 211 Baldwin Street in Jersey City, New Jersey, has been sold for $17.7 million. This multifamily property offers a variety of unit types and amenities, making it an appealing choice for residents. Additionally, its proximity to the Journal Square PATH Station provides convenient access to Manhattan.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $17,700,000
- Address: 211 Baldwin Street, Jersey City, New Jersey
- Market: Jersey City
- Broker: Jonathan Zamora - Marcus & Millichap
- Units: 45
- Price per Unit: $393,333
The sale of 6ixBoroJC was facilitated by Jonathan Zamora, a broker from Marcus & Millichap. He played a crucial role in connecting the buyer and the seller, ensuring a smooth transaction. With his expertise in the Jersey City market, Zamora was instrumental in finalizing the deal.
Jersey City MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.90%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93